Fiduciary Counselors Inc

Item 5          Fees and Compensation

Fees are typically charged on the basis of the estimated time involved and complexity of each case (a flat fee), or
on the basis of time and expense (an hourly charge). The Company does not employ a standard fee schedule for
all clients. Fees are negotiable and are agreed upon in an investment advisory contract or a fee agreement prior
to the performance of any service. Each contract or agreement usually sets forth, among other things, the services
to be provided, the fee, the length of the contract period, and how the contract may be terminated. Generally, our
fees are not deducted from the assets under management; instead, clients are separately invoiced, usually in
advance, for fees charged. In most instances, fees are non-refundable unless the contract is terminated for cause,
in which case the fees are refunded to clients on a pro rata basis based on the length of the contract period and
the date of termination.

The Company’s fees are exclusive of any brokerage commissions, transaction fees or other related costs and
expenses that may be incurred by the client.

Item 7         Types of Clients

Fiduciary Counselors, acting as an independent fiduciary, generally provides investment advice in the context of
employee benefit plans covered under ERISA. These plans are usually sponsored by a corporation holding
employer-issued stock (“company stock”) in separately maintained accounts or funds within the plans. Clients
include pension and profit-sharing plans, the corporations sponsoring such plans, banks, trusts, union sponsored
plans, and voluntary employees’ beneficiary associations.

There are no minimum requirements for engaging Fiduciary Counselors except the client’s agreement to execute
our investment advisory contract or fee agreement, which provides for the scope of services to be provided, the
terms of our engagement, and the associated hourly or flat fees.